The Fair Work Commission has decided to raise the national minimum wage and award wages by 3.75% as part of their Annual Wage Review.
This brings the national minimum wage to $24.10 per hour or $913.91 per week for a full-time worker (based on a standard 38-hour workweek). The national minimum wage applies to employees not covered by an award or registered agreement.
Minimum award wages will increase by 3.75% for employees who are covered by an award or registered agreement.
This change comes into effect on 1 July 2024 and applies from the first full pay period on or after 1 July 2024.
Employers are reminded to check the Fair Work Ombudsman website to access updated award/agreement wage rates, and to update their payroll system to take the increase into account.
Remember also that the superannuation guarantee will also increase from 1 July to 11.5%, and to adjust your payroll system accordingly.
